X-ray firm issues profit warning after cancelled orders

Bill Mawer

Image Scan, the Leicestershire-based x-ray firm, has issued a profit warning, saying that delayed or cancelled orders will has led to a “disappointing” third quarter for the firm.

The company said that “several” overseas Government projects for portable X-ray systems, that had been expected to contribute to on-target earnings, would now not contribute to its Q3 results and that it is now on target to make a loss for the year-ending September 2019.

Image Scan admitted this morning that it was unsure how much money it would lose this year.

Image Scan’s chairman and chief executive, Bill Mawer, said: “Historically, our second half sales have been substantially stronger than those in the first half, and in announcing our FY 2019 first half results, we could see a strong enough pipeline to support our year-end expectations. That a number of those projects have not materialised is disappointing and has led to this revised view of the year end.

“Looking to the future, our internal product development programme is moving ahead rapidly, and we are working on partnerships to further expand our product range.”

The company will provide a pre-close statement on its results for the year to 30 September in October.

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